Call Us: 972 444 9622
Call Us Now WhatsApp

QUICK ENQUIRY

WELOCME TO OM TRANSPORT CORPORATION

IBA Approved Packers and Movers Dhule Maharashtra Om Transport Corporation

 

Home Buyers Rule in Depressed Real Estate Market


Right now in the U.S. there hundreds of thousands of home owners who want to sell their property, but can find no buyers.

If you are a qualified buyer you are currently more valuable that an NFL first round draft pick. Yes, you are king and every home seller is your subject to do with as you will – almost!

The point is, this is one of those rare periods in time when you can get the best possible deals simply for the asking. The trick is to know what to ask for.

Financing

You will find that in most cases you have the least amount of maneuvering room in the area of financing. Most highly motivated sellers have little or no equity in their homes. They either bought near the top of the real estate bubble or they have refinanced every penny of wealth out of their home.

If you are lucky enough to find there is some equity in a home there’s a good chance you can do a no money down deal by asking the owner to carry-back that equity in the form of a note and second mortgage. That’s called a “seller carry-back”.

The seller carry-back was very popular in the early 1980’s. That was during a period when it was near impossible to sell property without some form of seller financing like the carry-back. That was possible in those years because mortgages were assumable by the new buyers. Investors learned how to use an All Inclusive Deed of Trust (AITD), sometimes called a “wrap around mortgage” to buy with no money down.

Since mortgages are no longer assumable it is rare that you will find a deal that works with a wrap around. You may find a mortgage that allows a buyer to assume the financing after qualifying. That seldom works in an investor’s favor, but it is worth investigating if all else fails.

To use the seller carry-back today you have to buy ‘subject to’ the existing financing. That means that after you sign a promissory note secured by a trust deed for the owner’s equity, you take title to the property and just continue making payments on the first mortgage. Investors should learn the details of how to buy ‘subject to’, because it can be very powerful in this real estate market.

Among the other methods of buying, you might consider a lease-option or a ‘short sale’.

Inspection and Repairs

Homeowners are desperate to sell, so they will be open to performing any repairs or improvements that you ask for in your purchase offer. That means you should require is through pre-inspection of the property. That inspection should include:

Heating and air-conditioning system

Plumbing and electrical systems

Roof and attic, including insulation

Walls, ceiling, floors, windows, doors

Foundation, basement

Any built-in appliances

Septic, wells

Swimming pool

Landscaping irrigation

Those are the things you should check before writing the purchase offer. Then you can include any repairs or replacements required in your offer. Don’t stop there. In the purchase offer you state that the offer is contingent upon your approval of a report by a qualified home inspector.

A-S-K

Finally, you should ask for at least a few things that are not vital to the deal. If they have two cars, ask for one of them. Ask that they leave the lawnmower, child’s swing set, exercise equipment, dining room set, etc.

If you don’t A-S-K you will never G-E-T. If the home sellers are really motivated they may want to move as quickly as possible and be willing to give you anything that will make packing and moving easier.

Compensate for Falling Values

When you consider making a purchase offer on real estate, keep in mind that values continue to fall in many areas of the U.S. You must buy at a deep discount to compensate for the fact that the property’s market value will be less in 12 months than it is today.

Whether you are buying for personal use or as an investment, there has seldom been a better time to be in a position to buy homes. Use your power with compassion. Be a wise and benevolent king!

OUR BEST IBA APPROVED PACKING AND MOVING SERVICES

Domestic Relocation

Om Transport Corporation has the most comprehensive and diversified relocation services within India. Our crew members are well-trained in the areas of inter city and intra city relocations, warehousing facilities covering all cities in India.
read more

International Relocation

Om Transport Corporation services are related to shifting of goods through air ways. People often get confused about how to shift their goods to any new location through air ways. But with the help of Siddharath Cargo Movers.
read more

Commercial Relocation

Om Transport Corporation is move in which your complete office and everything in it has to be shifted from one destination to another. You can be rest assured that our well organized, efficient crew will make your corporate relocation a success.
read more

WE PROVIDE BEST IBA APPROVED PACKING MOVING SERVICES

iba approved packers and movers dhule
iba packers and movers dhule
iba approved movers and packers dhule

FIND US ON GOOGLE MAP

OUR CLIENTS